iTech Minerals has drilled ‘impressive’ graphite intervals in the first holes at its Lacroma graphite prospect in South Australia.

Assays from the first four holes at Central Lacroma include:

  • 91m at 6.0% TGC from 4m (LARC23-005);
  • 76m at 7.1% TGC from 19m (LARC23-004)
  • 69m at 7.6% TGC from 38m (LARC23-001); and
  • 2m at 8.3% TGC from 85m, 16m at 6.3% TGC from 102m and 30m at 6.8% TGC from 121m (LARC23-003).

Drilling has now confirmed that the underlying >6km airborne electromagnetic anomaly is caused by a significant graphite mineralised system.

Plus, a second drill traverse, 1 km to the south, has confirmed continuation of the same graphite horizon along strike with assays pending.

Potentially a new graphite asset

“iTech is very pleased with the impressive assay results from the first drill holes at the Lacroma Graphite Prospect,” iTech Minerals (ASX:ITM) MD Mike Schwarz said.

“The scale of the graphite mineralisation at Central Lacroma is becoming apparent, with a significant thickness of graphite mineralisation intersected in drilling from surface and in two traverses over 1 km apart.

“With a further 4 to 5 km of strike still to be tested in the current drill program, iTech hopes to establish a significant new graphite asset for the company.”

Preliminary metallurgy on graphite from historical drilling, demonstrated that a high-grade graphite concentrate of >90% TGC with recoveries of ~83% can be achieved with simple flotation – with the company planning to submit a new sample for test work in the coming weeks.

Drilling is ongoing, with approximately 2,800m of 10,000m completed to date, and the next batch of assay results due in the next 2 weeks.

This article was developed in collaboration with iTech Minerals Limited, a Stockhead advertiser at the time of publishing.

This article does not constitute financial product advice. You should consider obtaining independent advice before making any financial decisions.